ICE $ICE to buy MarketAxess $MKTX for $5.7B at $167/share

$5.7B is the equity value in Intercontinental Exchange’s agreement to acquire MarketAxess. ICE $ICE said in its July 30 transaction announcement that MarketAxess $MKTX shareholders will receive $167 per share in cash.

The price is 33% above MarketAxess’s prior closing price, according to the deal announcement, and the companies expect the transaction to close in the first half of 2027. Both boards approved the agreement unanimously. The size clears the finance-crawler M&A threshold by a wide margin and directly affects fixed-income market infrastructure.

Deal term | Figure
Equity value | $5.7B
Consideration | $167/share cash
Premium | 33%
Expected close | First half 2027

The strategic stake is fixed-income distribution and data. ICE already owns the New York Stock Exchange and operates market-data, clearing and mortgage-technology businesses. MarketAxess brings electronic trading and data services across corporate bonds and other credit products, with institutional workflows that are still less centralized than large equity markets.

For investors, the next checkpoint is regulatory review and client retention. The transaction puts a major bond-trading network inside a broader exchange and data company, so antitrust and market-structure questions may shape the timetable. Financing details, integration costs and any revenue-synergy targets will decide whether the $5.7B price is read as scale-building or multiple expansion risk.

Not investment advice. Verify all figures with primary sources before acting.